Education version of Photoshop7

I have access to buy Photoshop 7 through my college for $300. If I do this and use it to do some graphics work on my Mac for game development is that ok? I was wondering if anyone else has done this or if it's even legal? Thanks

To bad I can't buy stuff at academic superstore I'm canadian and you can't buy US academic stuff. So... I just bought the adobe whatjamacallit box with PS7,Illistrator, In Design and acrobat for 400canadian$

Also, goto Spyrysoft.com/mac, Genesis Technologies, and Creation Engine.com for edu. discounts. Sprysoft is the cheapest, but Academic Superstore has the largest selection. I got After Effects, Bryce, and Flash MX through Creation Engine, and LightWave and Director through Academic Superstore. Well, I didn't purchase them all at the same time, of course.